9. **ASSIGNMENT.** 

 This Lease shall not be assigned, sold or sublet by either party without the prior written consent of the other party which shall not be unreasonably
withheld. 

 10. **DEFAULT.** 

 If Lessee defaults in payment of rent or in performance or observance of any of the covenants, terms, provisions, or conditions herein contained, and if such defaults shall not have been remedied within the grace periods identified in the
following paragraphs, or if Lessee files for bankruptcy under Chapter 11, or becomes insolvent, or in the event of cancellation of any insurance required to be maintained hereunder without replacement to insure no lapse in coverage exists, Lessor
may, at its option, terminate this Lease by written notice and take immediate possession of the Aircraft, all at the cost of Lessee. 

 The
following events shall constitute Events of Default: 

 a. Lessee shall fail to make any payment of Rent to Lessor within ten (10) days
of when due under this Lease; 

 b. there shall occur any termination of, material alteration in the scope of the coverage of, or material
reduction in the maximum amounts payable under any insurance maintained by Lessee pursuant hereto, or a change in coverage from an approved insurer to an unapproved insurer, or Lessee shall operate the Aircraft after having received notice that the
insurance required hereby has lapsed or has been cancelled; 

 c. Lessee shall fail to perform or observe any covenant, condition or
agreement to be performed by it hereunder and such failure shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee;